The Hellenic Radio (ERA): News in English, 08-11-10

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] P. Tatoulis Ousted from ND Parliamentary Group

Criticizing the PM

In his interview with the above newspaper, Mr Tatoulis reports amongst others that Mr Karamanlis is in danger of being described not incompetent but an accomplice from a political point of view.

He also adds that Mr Karamanlis is fully responsible for the government and for his choices.He is objecting to the dilemma "Karamanlis or chaos" arguing that the end of the era of one-party governments does not mean chaos. Referring to developments within the ND party he adds that the introversion within the party does not end with orders but only with policies that exceed them.Mr Tatoulis made similar statements in his interview with Radio Station Athens 9,84.

News item: 15343

[02] Banks in Favour of Government Plan

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The majority of Banks is in favour of the government's plan of injecting 28 billion euros to Banks to boost liquidity in the economy. As per the President of the Banks Hellenic Association and National Bank President Takis Arapoglou the government's measures are correct and their materialization will facilitate the financing of enterprises and households.

As per the Association's announcement, Banks are aware of the difficulties the Greek economy is facing due to the global financial crisis and are ready to make each possible effort in support of the Greek economy, their customers, enterprises and households.

Furthermore, it reports that each Bank will act separately due to the legislation on competition.

It also adds that the materialization of the provisions of the law after it passes in Parliament will facilitate the financing of enterprises and household, as well as the smooth functioning of the economy.

Meanwhile, MIG Vice President Andreas Vgenopoulos stressed that the government could not be asking from Banks to lower their interest rates, when the cost of deposits remains high. He stated that when the Bank's interest rate for the Hellenic Railways Organisation is 8% how is it possible to demand from that Bank to offer housing loans with a 4% interest rate.

He also wondered whether the government had asked Mr Latsis, who has 50% of Eurobank, is willing to cover himself a potential problem of capital sufficiency in the future.Finally, he called on the PM to assume the initiative so that the issue is resolved with concession and social sensitivity.

At the same time, after the National Bank of Greece, Piraeus Bank has announced measures in favour of loanees and small and medium-sized enterprises. Piraeus Bank will allow its customers to reduce the installment of their housing loan to half for 2009. In parallel, it will reduce the Basic Advances Rate for entrepreneurs and small enterprises by 0.5% and the interest rate of credit cards by 1%. At the same time, the installments of housing and consuming loans of the unemployed will freeze by the end of 2009.

News item: 15344

[03] PASOK: Framework for Combating the Crisis

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PASOK (Panhellenic Socialist Movement) President George Papandreou presented the representatives of social bodies a complete framework that will allow tackling the consequences of the financial crisis. The plan includes proposals on boosting liquidity in the market, supports real economy, consumers and loanees, invigorates the market, supports small and medium-sized enterprises, relieves low brackets and tackles unemployment. Furthermore, he insists that the debts of low brackets and small and medium sized enterprises should freeze by the end of 2009.

Mr Papandreou stressed that the economic situation demands political initiatives that will aim at founding a fresh national developmental and social agreement to the benefit of civilians.

The PASOK leader spoke of radical deceleration of economic activities, insecurity within households and productive classes, while the consumers' confidence has reached nadir. Regarding the 28 billion euros to be channelled to banks he said there is confusion on how the above sum will be managed. After accusing the government of not having submitted a complete and credible proposal he said that PASOK's proposals aim at supporting the banking system so that liquidity is restored in the market and wishes to support consumers and loanees. Furthermore, they wish to invigorate the market and support the small and medium-sized enterprises, as well as tackle unemployment and help the poor.

News item: 15345

[04] New Institutional Framework for Collecting Companies

Participating in the dialogue will be representatives of consuming organizations, collecting companies and Banks.

As per Mr Folias, the measures will abolish pressures against households and small and medium-sized enterprises that have difficulty in paying off their debts.

The measures include amongst others protection to those who are unable to pay off their debts for objective reasons, while collecting companies will not be allowed access to personal data. Furthermore, if collecting companies break the law they will be annulled. A strict check will be imposed on the relations of banks with collecting companies, while specific conditions will be introduced on the collecting companies' legal profile. Principles will be institutionalized so that the debtor's personality enjoys respect and dignity. In parallel, collecting companies will be banned from collecting debts that derive from illegal contracts. At the same time, collecting companies will have to state the true identity of collecting company employees, while the confidence and good faith relationship between consumers and Banks should be armoured.

News item: 15346

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